World Perspectives

President’s FY 2025 Budget Request for USDA

While Congress is finishing the last six appropriations bills for FY 2024 (with a deadline of this Friday), President Biden submitted his FY 2025 budget proposal last week with few changes proposed to USDA’s budget.   Overall, USDA spending under the President’s request is $231 billion, down from the forecast $238 billion in FY 2024 and up from $229 billion in FY 2023. That request assumes current law, i.e., the 2018 farm bill. Mandatory spending is comprised of program funding, such as crop support, conservation, and nutrition programs. Discretionary spending is the annually appropriated funds that are for salaries and operating funds for the year. The breakdown of mandatory spending projected for FY 2025 is shown...

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The CPI released this morning showed that August prices increased 0.4 percent and 2.9 percent over the last 12 months. For food at home, the index rose to 0.6 percent in August and for 0.3 percent for food away from home. The August data compares to a drop of -0.1 percent in July and 2.7 percen...

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Market Commentary: Calm, Confident, But Correct?

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Remembering 9-11

Twenty-four years ago, on September 11, 2001, the U.S. experienced one of the most tragic and influential days in the nation’s history. The events of that day would spark great unity, and later division, as our nation grappled with terrorism’s fallout. The days and weeks immediately...

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From WPI Consulting

Communicating importance of value-added products

Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.

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